Used in organic synthesis as an intermediate for pharmaceuticals and agrochemicals. Its structure supports the development of bioactive molecules, particularly in the preparation of iodinated aromatic compounds for use in medicinal chemistry. Commonly employed in coupling reactions, such as Suzuki or Heck reactions, to build complex molecules. Also utilized in the synthesis of radiolabeled compounds for imaging and tracer studies due to the presence of iodine. The methoxy and carboxylic acid groups allow for further functionalization, making it valuable in drug discovery and development.